MOSCOW, July 26 (RIA Novosti) – Fitch Ratings has affirmed Moscow’s long-term foreign and local currency issuer default ratings (IDRs) at “BBB” with negative outlooks, the agency said Saturday.
The global rating agency also affirmed the short-term foreign currency IDR at “F3.” The country ceiling has been lowered to 'BBB' from 'BBB+'.
Fitch links the negative outlook to recently introduced Western sanctions against Russian companies. Fitch marks that Russia continues to enjoy broad social and political stability.
A reduction in tensions with the international community, resulting in a decreased risk of sanctions being imposed, may stabilize the outlook in the future, the agency said.
